Here's a quick look at some important information.
Beneficiary:
The person or persons who will receive the benefit payment
of your life insurance policy.
Final Expenses:
These can include funeral expenses, unpaid hospital bills,
credit card balances or other debts, probate costs, or estate taxes. When you
are evaluating your needs for life insurance, you should carefully consider
your final expenses.
Fully Underwritten:
Life insurance plans which require some medical screening
as part of the application process are referred to as fully
underwritten plans. The screening frequently includes a paramedic
exam to determine height, weight and blood pressure. A blood and/or urine
analysis, along with other tests may also be conducted.
Premium:
The price you pay for your insurance coverage.
Rider:
An optional feature or coverage which you can add to your
insurance plan (usually with an additional premium). For example, some life
insurance policies offer accidental death riders which provide an additional
benefit if death results from an accident.
Simplified Issue:
Simplified issue means that you don't have to complete a
lengthy health questionnaire or get a physical to apply for coverage. Your
answers to a few health questions will help us determine your eligibility.
Unit:
A unit of coverage corresponds to the life insurance benefit amount you
can purchase, and it depends on age, gender and state. Please visit the
Guaranteed Acceptance Life quote
page to see benefit amounts and
premiums available to you for up to 8 units of coverage.
Whole Life Insurance:
Whole life insurance offers coverage for a lifetime, your
premiums do not increase over time, and your coverage builds cash value. You
can borrow against this cash value by taking a policy loan. For people who want
permanent protection, whole life insurance can be a good choice.
Two whole life products we offer are
Guaranteed Acceptance Life and LifeChoice® (Simplified
Issue Whole Life). After the first year of coverage these plans begin to
accumulate cash value.
Questions? Call us toll free 1-877-891-0915
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